Average Income by Age (and What to Do With It)
45,433
Publicado 2024-07-17
About this episode:
Think you're not earning enough for financial peace? Think again. In this episode, Iām breaking down how you can feel confident in your finances with any paycheck size and sharing the key to leveraging your income as your greatest wealth-building tool.
Next Steps:
ā¶ļø Watch How Much You Should Have in Your 401(k)āBy Age: Ā Ā Ā ā¢Ā HowĀ MuchĀ YouĀ ShouldĀ HaveĀ inĀ YourĀ 401(...Ā Ā
šļø Read How to Win With Money in 7 Baby Steps here: www.ramseysolutions.com/budgeting/how-to-win-with-ā¦
š Order George Kamelās new book, Breaking Free From Broke: ter.li/b3chhl
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Listen to more from Ramsey Network:
šļø The Ramsey Show ā® ter.li/nrgexc
š” The Rachel Cruze Show ā® ter.li/gyh9k6
šø Smart Money Happy Hour ā® ter.li/ruezqk
šø The Ramsey Show Highlights ā® ter.li/yc3i4v
š§ The Dr. John Delony Show ā® ter.li/sii4ha
š¼ The Ken Coleman Show - Highlights ā® ter.li/nbekmn
šEntreLeadership ā® ter.li/81tcjn
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Todos los comentarios (21)
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Went from living with my parents going to community college to being debt free earning 100-115k five years later. So much of it was luck and just saying āyesā to opportunities I wasnāt even looking for. You donāt know what your future holds! Hindsight is 20/20, but when youāre in your ābuildingā phase, you may feel like a failure because youāre lost. Be open to what opportunities life throws at you. Itāll change your income, but more importantly, itāll change your mindset
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You work for a 40yrs to have $1m in your retirement, meanwhile some people are putting just $10k in a bitcion coin for just fe months and now they are multimillionaires thanks to Charlotte Grace Miller
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Hey George! I'm eighteen years old and just got your book in the mail and have been practicing your wisodm! Thanks!
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Let's be perfectly honest. My income has significantly reduced the necessity for me to be good at managing my money responsibly. I haven't been throwing it around at new cars, giant houses, and European vacations, but my expense-to-income ratio has been so low I haven't needed to worry about penny pinching. It is much harder for someone to live debt free and invest for retirement with $50k a year than $150k a year. Like night and day different lives.
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Man hard work pays off. Just turned 40. In the last few years we went from a combined income of $110k (50th percentile) to $330k (90th percentile) this year. I earned a couple promotions over the last few years and my wife graduated with her Nurse Practitioner. We'll be debt free in a couple months, then living on take home of $80k and saving and investing the rest to push to $1 million invested outside retirement before our term life insurance expires at age 47. We are so excited about our debt free future.. it will be awesome. Took us almost 20 years to get here, but it's worth it.
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Although I have interests in global economics I don't watch the news anymore... I have enough FUD lol. Thanks for this news and offering your insight on how to navigate during unfortunate times/events like this. You're right about keeping level headed when investing so that's why I think it's important to limit the amount of FUD we consume. I don't watch the media but the news that you present has enough to know issues going on without riding the emotional rollercoaster if I were to watch the news everyday. Now I buy and just trade long term more than ever, I have made over 16 btc from day trading with Francine Duguay in few weeks, this is one of the best medium to backup your assets incase it goes bearish.
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Iām above the 90th percentile at 36. But debt is draining that. Will have everything paid off by 4/2026 and my house paid off 3years later. Embrace the grind.
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Getting a new job right now. I think Iām ahead of my age group by quite a bit and behind on savings by more than a bit. Got work to do. Time to show the cheetah the Gazelle
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Thank you George for you tips. Im on baby step 2 and destroying debt as much as i can. God bless
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Loved the "Roll Tide, " George! ššš
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Damn. Feels good knowing Iām doing so much better than my peers at my age. Makes me feel a lot better about my situation
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Well, guess I am well underpaid, but I am pretty happy with my life.
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29 years old making $124,000 every six months (I work 60 days on and off) as a merchant mariner woohoo 90% plus group! Very happy to see Iām doing well. So thatās six months of money saved via not buying food, clothing, going out, random shopping.
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Loved that you shared "you're made in the image of God"! and your income does not define you. Amen!
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After seeing this Iām so happy and blessed to say Iām in the 90th percentile for my age. Iām 23 and this year Iāll be shy of 6 figures as a mechanic. From Dave and your teachings I save as much as I can to move out of my parents house at the end of the year
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At the very least, I now grasp the concept of leverage. Creating wealth and financial freedom isn't as tough as many people believe. Building wealth and remaining financially stable indefinitely is a lot easier with the appropriate information. Participating in financial programs and products is the only true approach to make a high income and remain affluent indefinitely.
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Come for the financial literacy topics, stay for the memes
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George! Iām 29, debt free and just paid off my mortgage. Going to use the extra money Iām saving not having a house payment to travel because I kept putting that off to get out of debt.
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Every time I watch one of these videos over the past decade, it makes me realize how terrible HP/HPE was compensating me.
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We are at the paycheck to paycheck part of our life, or it seems so. We do save 20% of our income in a 403B retirement account (24% if you count our employers part) and another 5% in savings. After that we live paycheck to paycheck. We are somewhere between the 75% and the 90%.